j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Jul 31, 2014 17:42:04 GMT
10.55%, 18 months, £550k, but 104% ltv! (not read report yet!)
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Post by Ton ⓉⓞⓃ on Aug 19, 2014 12:55:05 GMT
Big change in ltv
now at 54%
with 0.5% cashback too
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Post by davidricketts1 on Aug 19, 2014 13:23:59 GMT
Big change in ltv now at 54% with 0.5% cashback too I updated this today Ton.
Figures taken from the February balance sheet that is available on the documents section if you want to check it!
Not sure where the first figures were from (and I put them in so I should know.....)
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Post by davidricketts1 on Aug 19, 2014 13:46:01 GMT
I'm a bit confused about the new LTV calculation. It's dropped from over 100% to 54%. The total security seems to add up to around £1.02m, which is 54% LTV. However, previously the stock was written down to 20%, the debtors to 50% and the property to 65%. With those writedowns I still get LTV close to 100%. What am I missing? Thanks Samford you've answered my question as to how I did the calculation previously (too much to do and memory not as good as it was previously).
Write downs previously don't give a true view of the LTV against the assets but they would assist in ensuring an appropriate level of asset cover for the purpose of covenant monitoring - the percentages you quote are those that we'll be using in the covenant test. Perhaps if I wasn't so busy I could have put an explanation up that covered why around 100% LTV here was deemed appropriate as I'd already written the asset values down.
I'm glad I'm not going daft as I spent quite a bit of time looking at the figures this morning trying to work out why I'd entered them.
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j
Member of DD Central
Penguins are very misunderstood!
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Likes: 540
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Post by j on Aug 19, 2014 15:52:01 GMT
This makes it more interesting! Will have to go read the docs properly now as , admittedly, I never really bothered initially as the ltv put me off straight away.
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j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188
Likes: 540
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Post by j on Aug 26, 2014 6:59:14 GMT
9 hrs remaining & another 25% still to fill? will we have an extension,last minute u/w or the plug be pulled?
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spockie
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Post by spockie on Aug 26, 2014 7:30:39 GMT
9 hrs remaining & another 25% still to fill? will we have an extension,last minute u/w or the plug be pulled? I think Hackney is due to pay today. Perhaps that will release some funds.
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j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188
Likes: 540
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Post by j on Aug 26, 2014 8:21:51 GMT
9 hrs remaining & another 25% still to fill? will we have an extension,last minute u/w or the plug be pulled? I think Hackney is due to pay today. Perhaps that will release some funds. If that's the case, AC need to hurry with repayment. Even so, a few hours extension wouldn't go amiss if they felt that's what is needed to get over the finish line. We've also had a drying up of lending opps recently. probably be over now with bank hols out of the way
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Post by andrewholgate on Aug 26, 2014 12:48:12 GMT
j1 I have 4 loans to come, but we are waiting on final consent forms to be signed before release. The bank holiday did get in the way, but more in the pipeline to come.
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Post by Ton ⓉⓞⓃ on Aug 26, 2014 14:15:47 GMT
10 and then 20k of u/wing added so it's not over just yet, either an extension or more u/wing is coming...
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Post by Ton ⓉⓞⓃ on Aug 26, 2014 15:46:19 GMT
Two more days just added
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mikes1531
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Post by mikes1531 on Aug 27, 2014 11:52:11 GMT
I think Hackney is due to pay today. Perhaps that will release some funds. Does anyone know what might have given spockie this idea? The last report in the Hackney Recent Activity was on the 18th when AC said they thought the refinance would happen this week. Since then, there was a Q in the Q&A today to which AC replied "We are still hopeful of full repayment this week although an update is expected by tomorrow morning..." So it doesn't look too likely that the Hackney money will arrive in time to help the YMPDL unless there's another extension, which there could well be. It will be interesting to see what happens when Hackney actually does repay, as £2.2M of cash looking for a new home should have a noticeable impact on investment opportunities. Maybe AC are holding up releasing the latest opportunities until the Hackney cash arrives?
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Post by Ton ⓉⓞⓃ on Aug 27, 2014 13:56:11 GMT
Loan now just about full as 'all' have agreed to a reduced amount of 475k rather than 550k
LTV now 46.48% was 54%(?) and before that 103%(?)
I guess they can still get the benefit of large deals even with the reduced amount?
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kermie
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Post by kermie on Aug 27, 2014 17:33:16 GMT
Whilst I have not bid on this one (will just wait for AM), the LTV reduction did prompt me to actually read the credit report and consider this one, and I suspect I will stick a small amount into this in due course. I suspect it has had a similar effect to help get some bidders (notwithstanding there now seems like a lot more underwriting available now too).
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Post by Ton ⓉⓞⓃ on Aug 27, 2014 21:58:15 GMT
Whilst I have not bid on this one (will just wait for AM), the LTV reduction did prompt me to actually read the credit report and consider this one, and I suspect I will stick a small amount into this in due course. I suspect it has had a similar effect to help get some bidders (notwithstanding there now seems like a lot more underwriting available now too). Can I ask what makes you feel there's a lot more u/wing available now?
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